Unity Software Inc.'s (NYSE:U) Senior Vice President and Chief Marketing Officer, Carol W. Carpenter, recently sold company shares to cover tax withholding obligations related to the vesting of restricted stock units. The transaction, which was not a discretionary trade, involved the automatic sale of 18,775 shares of common stock at a weighted average price of $19.10 per share, totaling over $358,602.
The shares were sold on May 28, 2024, in a series of transactions with prices ranging from $18.96 to $19.39. Following this sale, Carpenter still owns a substantial number of Unity shares, with a post-transaction total of 423,842 shares in her possession. The company has stated that the sale was executed in accordance with a pre-arranged plan to satisfy tax withholding obligations automatically.
Investors and interested parties can request detailed information about the exact number of shares sold at each price point within the specified range by contacting Unity Software Inc. directly. This information is available in compliance with the Securities and Exchange Commission's regulations.
Unity Software, headquartered in San Francisco, California, is known for its software development services, particularly in the gaming industry. The company's stock is publicly traded, and its financial transactions are closely watched by investors seeking to understand the actions of its top executives.
InvestingPro Insights
Amid the news of Unity Software Inc.'s (NYSE:U) Senior Vice President and Chief Marketing Officer's recent stock sale, investors are keeping a keen eye on the company's financial health and market performance. According to InvestingPro data, Unity boasts a market capitalization of $7.23 billion, despite the stock's volatility and recent price declines. Notably, the company's revenue growth has been impressive over the last twelve months as of Q1 2024, with a substantial increase of 36.66%. However, it's important to note that this growth is juxtaposed with a quarterly revenue decline of -7.99% in Q1 2024.
One of the key InvestingPro Tips for Unity Software is the high gross profit margin of 67.98%, which suggests that the company is effective in managing its cost of goods sold and could potentially translate to financial stability in the long term. Additionally, Unity is trading near its 52-week low, with its price being only 37.12% of its 52-week high, which could indicate a potential entry point for investors looking for undervalued stocks.
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